Saudi Arabia in July Reduced Oil Production by 9.5%, Exports by 11.6%
In July, Saudi Arabia reduced oil production compared to the previous month by 9.5%, and exports by 11.6%, according to data on the website of the Joint Organization Data Initiative (JODI). Export volumes amounted to 6.012 million barrels per day (b/d), compared with 6.804 million b/d in June. However, it …
Saudi Arabia Extends Oil Production Cut by 1 Million b/d Until the End of the Year
Prior to this, the voluntary reduction was calculated first for July, and then extended to August and September Saudi Arabia has decided to extend the voluntary cut in oil production by 1 million barrels per day (b / d) until the end of 2023. This was reported by the Saudi …
Oilfield Service Company ADES to List 30% of Shares in IPO
Saudi Arabia Public Investment Fund (PIF) and ADES Investments Holding Ltd. and Zamil Group Investment Ltd. are planning to list a 30% stake in ADES International Holding, one of the leading providers of drilling and oil and gas production services in the Middle East and Africa. As they say in …
Saudi Arabia and Russia were Thanked for Cutting Oil Production
The OPEC+ Monitoring Committee expressed gratitude to Saudi Arabia for extending the voluntary cut in oil production by 1 million barrels per day in September, and to Russia for the voluntary cut in exports by 300,000 barrels per day, the communiqué says. “The Committee also expressed its recognition and support …
Saudi Arabia Stressed That Russia Voluntarily Reduced Oil Production
Russia’s 500,000 barrels per day cut in oil exports was not forced upon it, it was a voluntary decision, compliance checks will be monthly, said Saudi Energy Minister Prince Abdulaziz bin Salman. “We did this (reduction – ed.) partly with the support of colleagues from Russia … We received confirmation …
Saudi Arabia Will Extend July Oil Production Cut Until August
Saudi Arabia will extend July’s voluntary cut in oil production by 1 million barrels per day to August, according to the Saudi news agency SPA, citing a source in the kingdom’s energy ministry. An official energy ministry source announced that the Kingdom of Saudi Arabia will extend the voluntary 1 …
OPEC Daily Basket Price Stood at $65.04 a barrel Wednesday, 6 March 2019
The price of OPEC basket of fourteen crudes stood at $65.04 a barrel on Wednesday, compared with $64.98 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), …
OPEC and Russia Consider 10 to 20 Year Oil Alliance – Saudi Crown Prince
Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years. Saudi Crown Prince Mohammed bin Salman told Reuters that Riyadh and Moscow were considering a deal to greatly extend a short-term alliance on oil curbs …
ERIELL Group is Interested in the Saudi Arabia Market
ERIELL Group has concluded an agreement with the consulting company BAS Global Investments Co. Ltd., which will render assistance regarding the ERIELL activity in the Saudi Arabia market. The partnership involves assistance in organization of logistic and infrastructural processes, and the marketing support. “ERIELL Group is interested in the opportunities …